Prescience forges new funding joint venture

Vandermolen, Dale join Prescience Film Capital Management

U.K.-based film financier Prescience has joined forces with finance specialists Lee Vandermolen and Peter Dale to develop sources of institutional funding and private investment.

Via a new partnership — Prescience Film Capital Management — Vandermolen and Dale will work with Prescience to open up channels for asset-backed finance, from tactical to permanent film financing as well as P&A.

It has already contributed to the financing of helmer Ruairi Robinson’s “Last Days on Mars,” which Focus Features Intl. is selling. Pic is lensing in Jordan.

Vandermolen, business development director, has worked in London’s financial district for two decades. He’s held positions on the London Metal Exchange and as a bond and futures trader and more recently as a commodities trader.

He previously provided expertise on funding short pics and musicals.

Dale, director of capital management and risk, is a former senior management consultant and financial services exec with experience in risk management, banking, asset management and hedge funds.

Additionally, former Kyte Group staffer Joshua Fineman has joined Prescience as fund development executive.

The news comes after Prescience, one of the backers of “The King’s Speech,” “360” and upcoming Brit pic “Fast Girls,” announced production and development funds, Hindsight Capital and Caledonia Specialist Finance, worth $173 million.

Prescience CEO Tim Smith said, “The changing film financing landscape makes it more important than ever that both institutions and private investors realize that film can be a low-risk, high-return sector if managed correctly.”